Mumbai: Vijay Mallya’s famous Kingfisher Villa has finally been sold. After failings to find any bidders at multiple auctions, lenders have agreed to dispose the property through a negotiated sale to actor-businessman Sachiin Joshi.
As per sources, Joshi paid slightly more than the property’s previous reserve price of Rs 73 crore.
The prime property is located in Goa’s Candolim and had become legendary for the parties that the high-flying Mallya threw at the villa.
Three previous attempts to auction off the property at Rs 85.29 crore, then Rs 81 crore and finally Rs 73 crore previously failed.
The last attempt to sell the property was on March 6.
Mallya owes over Rs 9000 crore to lenders and has been declared as wilful defaulter after Kingfisher Airlines was grounded in 2012.